Bharti Axa Life Bright Stars Plus

Bright Stars Plus from Bharti Axa Life Insurance is a simple unit linked Child Plan for the benefit of one’s child, such that premium would be paid by the policyholder and his life would be insured as well. However, if he dies, then Sum Assured would be paid out immediately to the family to handle the immediate expenses and the policy continues. The insurer continues to pay the premiums on behalf of the deceased life insured till the end of the policy tenure and the Fund value along with the Jump Start Bonus, as per the grid, would be paid out on maturity. 

• It is a market linked policy where the nominee would immediately receive the sum assured on death of the life insured during the policy tenure and all future premiums would be paid by the company so as to continue the plan till maturity
• The Fund Value is paid out on maturity along with Jump Start Bonus of
  • 5% for 7 and 10 years policy paid on maturity
  • 7% for 15 years policy paid on maturity
  • 7% for 20 and 25 years policy paid 5 years before maturity
• The flexibility to reduce the premium is available from the 3rd policy year. 

Death Benefit – In case of death of the Life Insured,

·         The nominee gets the sum assured under the plan immediately

·         The future premiums are paid by the company

·         The Fund Value is paid out on maturity to secure your child’s future.

Maturity Benefit – On maturity, the Fund Value is paid to the policyholder along with the jumpstart bonus.

Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C

Riders – There are riders available in this policy

Investment Fund Options

There are 6 funds available

·         Growth Opportunities Plus Fund

·         Growth Money Plus Fund

·         Build India Fund

·         Save ‘n’ Grow Money Fund

·         Steady Money Fund

·         Safe Money Fund

Top-up - The minimum and maximum amount for Top-up is Rs 1,000 and 25% of all regular premiums paid till date.

Switching - There are 12 free switches free every year and the minimum amount for every switch is Rs 1,000.

Partial Withdrawal - You are allowed to make partial withdrawals in this policy after 3 complete policy years or the life assured. Partial withdrawals will be free only twice in one policy year and the minimum amount for each partial withdrawal can be of Rs 1,000.

You stop paying the premium - If the policy holder stops paying the premium, then the policy would lapse. However a cover continuance option can be selected after 3 or 5 years, depending on the policy term, whereby the cover would be continued by charges being deducted from the Fund value.

You want to surrender the policy – Surrender Option is available after completion of 3 policy years according to the grid.

You want a loan against your policy – Loan facility is not available under this policy.